Business

RM5 mil funding for SMEs via BNM facility

Applications open now till Dec 31, 2021

Updated 5 years ago · Published on 16 Dec 2020 6:10AM

RM5 mil funding for SMEs via BNM facility
Bank Negara Malaysia’s RM1 billion High Tech Facility–National Investment Aspirations, introduced in Budget 2021, is part of the government’s effort to provide additional assistance for small and medium enterprises affected by the Covid-19 pandemic. – December 16, 2020

KUALA LUMPUR – Small and medium enterprises (SMEs) can obtain financing of up to RM5 million from Bank Negara Malaysia’s (BNM) RM1 billion High Tech Facility–National Investment Aspirations (HTF-NIA).

“SMEs can obtain financing of up to RM1 million for working capital purposes; up to RM5 million to finance capital expenditure; or a combination of working capital and capital expenditure of up to RM5 million, for a tenure of up to 7 years,” said BNM in a statement yesterday.

It said the facility is offered at a financing rate of up to 3.5% per annum for financing without guarantee or up to 5% per annum inclusive of guarantee fee (with guarantee coverage by Credit Guarantee Corporation Malaysia Bhd).

The facility is available from yesterday to December 31, 2021, or until it is fully utilised, whichever is earlier.

The HTF-NIA, introduced in Budget 2021, is part of the government’s effort to provide additional assistance to SMEs affected by the Covid-19 pandemic.

“The facility is aimed at supporting high-tech and innovation-driven SMEs affected by Covid-19 to recover and revitalise the nation’s innovation capacity. This is critical to strengthen Malaysia’s competitive positioning in global value chains, preserve the supply chain ecosystem and safeguard high-skilled jobs.”

The central bank said eligible SMEs include those in advanced manufacturing and services sectors that are best aligned to deliver the overarching national strategic long-term development goals, as embedded in the National Investment Aspirations.

These include businesses in the electrical and electronics, aerospace, pharmaceuticals, and information and communications technology sectors, as well as research and development driven firms supporting the development of emerging technologies.

“SME project participants in key government programmes involved in research, development and innovation for critical technologies identified under national blueprints, from IR4.0-related technologies, green technology to biotechnology, to ensure their continuity and completion of those existing projects are also eligible,” said the central bank.

Interested SMEs can apply directly to participating financial institutions, which comprise commercial banks, Islamic banks and development financial institutions regulated by the central bank through their websites or by visiting their branches. – Bernama, December 16, 2020

Related News

Opinion / 4d

Massive attacks in the Thai Deep South aimed at destroying the economy

Malaysia / 1w

Malaysia records 6% GDP growth in Q2 despite global headwinds, says Sim

Malaysia / 2w

Six per cent growth proves Malaysia's economy remains resilient - PM

Opinion / 2w

LHDN’s uneven hand: Tough on MSMEs, soft on the shadows

Opinion / 3w

Lessons From Negeri Sembilan - Charles Santiago

Opinion / 4w

The last dredge

Spotlight

Malaysia

Elderly man admits to hitting neighbour with iron rod

Malaysia

Body found at KLIA2 in tyre storage compartment of aircraft from Japan

Malaysia

Factory operator faces rape, unnatural sex charges involving polytechnic student

Malaysia

Ismail Sabri granted RM300k bail after pleading not guilty to asset declaration charge

By Alfian Z.M. Tahir

Malaysia

Sunway Lagoon ride halted as safety probe seeks to protect public - DOSH

Malaysia

Malaysia ready to deploy military expertise for Nepal flood relief, says Defence Minister

Malaysia

Violence in Thailand: Visitors drop by almost 50 per cent

By Ian McIntyre

You may be interested

Business

Malaysia’s international reserves stand at US$132.07b in July

Business

Robo.ai Inc announces appointment of new independent director

By Alfian Z.M. Tahir

Business

Oil falls for fourth day as Hormuz supply fears ease

Business

Robo.ai swings to positive equity after US$46.7m first-half profit

By Alfian Z.M. Tahir

Business

K8 Cargo: Company still in limbo, claims CEO

Business

Questions over traceability of nearly 77,000 tonnes of K8 cargo at Tanjung Langsat

Business

ASM 2 Wawasan declares seven-year high payout of 5 sen a unit

Business

Petronas revenue jumps 15% to RM152.4b as energy investments lift first-half earnings